ACWA Power launches first overseas Innovation Center in China

11/03/2025 06:05 AST

Saudi utility giant ACWA Power has inaugurated its first overseas Innovation Center in Shanghai to advance research in renewables, energy storage, and desalination, reinforcing its expansion in China's green energy sector.

Located in the Pudong New Area, the first phase of the project was developed with a budget of $2.8 million and includes a research and development facility as well as a green energy laboratory, the company said in a statement.

ACWA Power marked its entry into China in December by securing over 1 gigawatt of renewable energy projects. In January, the Tadawul-listed firm signed two agreements worth $312 million in China's renewable energy sector. These deals include a 132-megawatt solar photovoltaic portfolio in Guangdong province and a 200-megawatt wind energy project.

By 2030, ACWA Power aims to have invested up to $30 billion in China, in line with its broader strategy to triple its global assets under management to about $250 billion.

"The launch of our Innovation Center in Shanghai is a testament to our commitment to global collaboration and technological advancement," said Saleh Khabti, president of China, ACWA Power.

During the opening ceremony, the company also signed two memorandums of understanding with Gulf Renewables Laboratory and Shanghai Jiao Tong University. The company stated that these partnerships would equip the Innovation Center with the talent and technical expertise needed to drive groundbreaking projects and tackle industry challenges.

"Through partnerships with leading organizations, we aim to accelerate the development and deployment of sustainable energy and water solutions, not just in China, but across our global network," added Khabti.

ACWA Power emphasized that the Innovation Center would foster a dynamic ecosystem, bringing together government entities, state-owned enterprises, and startups, as well as original equipment manufacturers, universities, research institutions, and certification authorities.

The center is also expected to play a key role in advancing the environmental goals of both Saudi Arabia and China, supporting the transition to a greener economy and promoting sustainable growth.

"Innovation is the driving force behind any organization's success, especially in the industry that we operate in. This state-of-the-art facility, combined with the deep expertise of our partners, will be a catalyst for innovation across ACWA Power's entire value chain," said Bart Boesmans, chief technology officer of the utility firm.

Arab News